As the price of Solana falls below $250
Below $250, Solana fell again. SOL price is stabilizing and may see resistance around $235ā242.
Below $250 and $240 versus the US Dollar, SOL price fell again.
The price is below $240 and the 100-hourly SMA.
The hourly SOL/USD data shows a negative trend line with resistance at $235.
If bulls break $242, the pair may rise again.
Solana Falls Below $250
Solana, like Bitcoin and Ethereum, battled to break $260 and fell. SOL fell below $250 and $242.
It fell below $230. The price is consolidating losses after hitting $225. Several points over $230. It crossed the 23.6% Fib retracement level of the $244 swing high-to-$225 low decline.
Solana is below $240 and the 100-hour SMA. The upward barrier is $235, the 50% Fib retracement level of the decline from the $244 swing high to the $225 low.
The hourly SOL/USD data shows a negative trend line with resistance at $235. Near $242 is the next significant resistance. The primary obstacle may be $250. Close over $250 resistance might lay the stage for another sustained rise. The next hurdle is $260. More increases might push the price toward $275.
SOL Decline Again?
SOL might tumble again if it fails to break $235 barrier. Near $225 is first downside support. First main support is around $222.
A breach below $222 might drive pricing to $212. If the stock closes below $212, it may fall toward $200.
Tech Indicators
Hourly MACD - SOL/USD MACD is falling in the positive zone.
Hourly RSI ā RSI for SOL/USD is below 50.
Major Support Levels: $225, $222.
Two major resistance levels: $235 and $242.
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